Pound strengthens against Euro for festive breaks

2nd Dec 2010
Pound strengthens against Euro for festive breaks

Brits budgeting for a festive break should head to the Eurozone according to travel money expert ICE (International Currency Exchange - www.iceplc.com).  Whether skiing, Christmas markets or culture, Brits should have around 30 Euros more in their pocket on a £500 currency exchange thanks to a 5.8% rise in the value of the Pound against the Euro compared to this time last year.  The Euro is currently one of the only currencies where the Pound has strengthened year on year, out-performing the currencies of popular winter sun destinations Thailand, Mexico and Australia both in sales volumes and value.

But the British traveller’s love of long haul holidays fails to be dinted by the poor performance of the Pound.  ICE has seen a 30% surge in sales of Australian Dollars, compared to last month, no doubt supported by cricket fans heading down under for the Ashes.  The Aussie Dollar is now the third most ordered currency from ICE, after the US Dollar and Euro despite a fall in the Pound’s value against the Australian Dollar of almost 11%.

According to ICE, the Pound against the Mexican Peso has dropped nearly 12% year on year and while sales of the Thai Baht are strong for this enduringly popular winter destination, Brits are getting 16% less on their currency conversions compared to last year. The Thai Baht is now 4th in the ICE currency chart.

Joanna Williams, Head of Marketing for ICE said: “Many Brits can’t wait to get away at Christmas and New Year, in fact in a snap survey of our customers 62% said they were planning a trip abroad during the holiday season.  Fortunately this appetite for winter sun and ski holidays doesn’t seem to be diminished by the less favourable exchange rates we are seeing compared to last year.  It just makes it all the more important for travellers to plan ahead and shop around for competitive exchange rates online and in specialist foreign exchange bureaux.”


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